• 16555 Stoepel, Detroit, MI 48221
• District: 2
• Area: 754^{Sq. Ft}
• Year Built: 1941
• Water Line Cut: Unknown
• 2 Beds
• 1 Baths

Neighborhood: Fitzgerald/Marygrove

Purchasers should plan on making a range of repairs to the property, and bidders are strongly encouraged to review the attached Inspection/Condition Report for more detail.  We strongly encourage all potential home buyers to view the property prior to purchase, either through an open house or a private showing.

The Detroit Land Bank Authority has no knowledge of the condition, connection, or operability of the water service line that would normally connect this property to the water main, the line may be severed, damaged, or otherwise inoperable. Obtaining water service to this property may be a significant challenge and cost to the purchaser, in addition to the other challenges and costs of rehabilitation. Further, the water service line may be a lead line that requires replacement at the homeowner’s expense. The cost to reconnect a water service line can exceed $10,000 or more, and the purchaser will be required to reconnect the water service line at their own expense as part of the purchaser’s contractual obligation to rehabilitate the property. In other words, if you buy this property and the water line has been cut or needs to be replaced, you will have to pay to reconnect or replace it.  Reconnecting or replacing the waterline is not included in the purchase price.
 

Please also note that at closing the purchaser will be responsible for paying all properly-assessed property taxes not otherwise exempt pursuant to the statutory authority of the Detroit Land Bank.  The fee for the attached Inspection/Condition Report is $295.00 and will need to be paid at closing.  

**The City Employee discount CAN be applied to Auction purchases.** Please note that any discounts on the purchase (e.g. the city employee discount) will be granted at the time of closing on the sale. For more information on discounts and other policies, click here. The purchaser will be charged $1,000.00 upon winning the bid, regardless of any applicable discounts.  In addition to paying the remaining sale price on the property, purchaser should be prepared to pay the following estimated closing costs:

• Closing/Title fees: Starting at $600
• Recording fee: $30
• Tax certification fee: $25
• Title Insurance: Starting at $322.25
• Closing postponement fee: $50.00 each occurrence

Note: These costs are only estimates and are subject to change. If purchaser obtains financing they should also anticipate closing costs from their lender. You will receive an itemized invoice at your closing.

An aerial image of the parcel for sale can be found at this link:

https://cityofdetroit.github.io/parcel-viewer/16019505./